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What is the difference between the owner of the policy and being the insured?

April 26, 2017difference insured owner policy

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What is the difference between the owner of the policy and being the insured?

1 Answer

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The insured is the person the insurance policy is covering. The owner can make changes to the policy, but does not have to be the same as the insured. The owner is the insured unless specified on the application that someone else is the owner.